Ironman8848

BTC - D1 - DOWNTREND CHANNEL INTACT !

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
D1 : Global picture is showing a downtrend channel still in place.
In addition, for the time being, the ongoing recovery attempt price action
failed, so far, to recover above Kijun-Sen (47275) which is the first level to break
in order to neutralise the remaining bearish price action.

A move above Kijun-Sen would be the first step to confirm a potential further
upside move, as above Mid Bollinger Band (49523) which worked perfectly well
in the past as a very important support level (leading indicator !), should be seen, now, as a strong resistance to break to change the mode
from bearish to bullish .
Watch H4 for clues.
Technical analyst Expert since 1991. Member of the Swiss Association of Market Technicians (SAMT).
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